AFFAIRS IN NEW ZEALAND.

Globe, Volume XXII, Issue 2098, 13 November 1880, Page 3

AFFAIRS IN NEW ZEALAND.

“ Anglo Australian" in the “ European Mail ” makes the following pertinent remarks on the affairs of this colony It is fortunate for New Zealand that the Grey Government was superseded in time to prevent a financial crash, if not financial ruin. The news that Lad the slightest hitch or delay occurred in floating the five million loan the colony must have suspended payment within a week, created, as might have been expected, no little alarm hero. Assistance, however, seems to have come just in the nick of time, and it is, perhaps, fortunate that the true state of the case was not known on this side until after the crisis was tided over, because, it it had i been, the “ bears 11 would have made the most of it. New Zealand stock would have been hunted to death, and the loan would have been a failure. The democratic followers of a rampant statesman may therefore gather {from this episode how dangerous it is to play fast and loose with the first principles of government, and, by seeking to achieve a little passing popularity, to run the risk of ruining irretrievably the credit of a colony. The tendency to exaggeration is so great that all classes and conditions of men in the colonies should band together and do what they can to counteract the evils inherent in a democracy that are self-seeking and bent upon advancing themselves, and those who reason after their fashion, at all risks. Such people never care who sinks so long as they swim, and, like rats, they are always in baste to leave the ship when it is found to be sinking. Unfortunately we have many such in our midst, but their evil propensities are kept in restraint by the preponderance of a well - ordered public opinion. In the colonies) it is different, and therefore the Press, and all honest thinkers, should warn those who are easily imposed upon to he careful, and to avoid the teachings of the popular orator class. It is _ sad to think what might have happened in New Zealand if she had suspended payment. As, therefore, it will serve no good purpose to dwell upon this subject, all concerned may be congratulated that the difficulty has been tided over. It is something to know that the present Government fully appreciates the position, because such appreciation gives abundant promise of amendment, and because anyone who knows anything of the resources of New Zealand _ cannot donbt that with honest and consistent government all will come right. It is a good sign, too, that trade is improving, and that confidence is being restored. There_ is no doubt ample room for retrenchment in most of the State departments, and, wherever money can be saved without impairing efficiency, there is room to expect that the pruning knife will be actively set in motion by the present Premier, who seems to have the welfare of the colony at heart. It must be remembered, however, that the Government is comparatively powerless unless it is backed up by the people, and the wish here is that they will give it an ungrudging support at a iuncture when support is needed.